The Sinister Motives Behind The $2.1 Billion World Bank Loan.

Recently in Nigeria there is good news from America, concerning the $2.1 billion loan from the World Bank to President Muhammadu Buhari to rebuild the North Eastern region of the country which has been destroyed by the Boko Haram Insurgency.
Also the money, according to the President himself will be used to resettle the over one million Internally Displaced Persons (IDPs). Femi Adesina ( Special Assistant to the President on Media and Publicity), also disclosed that the first 10 years of the loan will be interest-free, while the additional 30 years will be at lower than capital market.

This is a welcome development and shows that sanity is gradually returning to Nigeria. The sad thing is how  some Nigerians are all calling for the head of ex President Goodluck Jonathan for incurring debts but praising Buhari for this £2.1 billion debt incurred again. How can the government borrow such an amount when the menace of Boko Haram hasn't yet  been halted or even reduced? Instead their attacks have increased in the past 2 months extending to Plateau and Gombe which are not in the North East. How can the government borrow to rebuild when it has not yet chased out the Insurgents? Or shouldn't it be one at a time. There should be a chronological way of carrying out such sensitive operations and at such, one only questions the motives of hurrying to borrow funds and incur debts, while Insurgency still lives large in the country? The president till now hasn't given a concrete date that the ghost of boko haram would be banished forever. It is still the promise upon promise which is too similar to all we have heard in the past. The present administration has shown they are not ready to tackle boko haram from their slow approach to every issue including the security of lives and properties.

Corruption is the biggest problem of Nigeria, eating deep like cancer, so why borrow funds now which you will keep in national treasury till God knows when? Why borrow funds when you  have not yet defeated boko haram ? Or are you going to start rebuilding while boko haram continues it's destruction? Who is going to handle the funds and how can Nigerians be sure it won't go the way of others. This same governor's of North East have collected billions and billions of dollars both as Federal Allocation and Excess Crude Oil Fund and yet have done no rebuilding and still owe salaries even when oil price was at its peak. So are the governor's the same ones to be entrusted the funds or the yet to be appointed ministers? It doesn't make logical sense to have hurried and rushed over to the US to obtain rebuilding loan when our country is unsafe and Boko Haram is still in control of the North East.

Something is really missing in the puzzle and at such will be very difficult for Nigerians to decipher. It is hypocritical to blame Dr Goodluck Jonathan for anything which went wrong and still goes wrong even two months after he left government but see nothing wrong at this early days of borrowing by the present administration. It smacks of "Double Standards" that one government is villified for borrowing and another applauded. Nigerians must learn how to hold their leaders accountable and responsible especially when it comes to financial matters.

The main problem affecting the country or region at present is insecurity and loss of lives and not rebuilding. One cannot value properties ahead of human life. The region of North East deserve more security and not borrowing in their name for a project which wouldn't take off until they are  secured. In this aspect President Buhari has failed Nigerians at large. One only rebuilds after the war and not during war.

First things first,  let the insurgency be halted before the excessive borrowing or rebuilding, it is only in Nigeria that a government is more interested in borrowing for rebuilding than ending insurgency and destruction. A enough of words as campaign as long ended, Nigerians need action.